Repsol

Repsol

Repsol analyses new growth opportunities in renewables

Renta 4| Repsol (REP) is studying an alliance with the CIP fund (Copenhagen Infrastructure Partners) to produce green hydrogen in the Catalina Project promoted by the Danish fund, which contemplates the development of four wind farms and nine photovoltaic farms with a capacity of 1.1 GW and an estimated energy production of almost 3,000 GWh per year to feed a hydrogen plant with an initial capacity of 500 MW to…


Repsol novedad

Repsol has capacity to deliver high capital distribution and better dividend growth than competition

Morgan Stanley| According to Repsol’s (REP) strategy plan for 2024-27, analysts not only see the company’s willingness to deliver a high capital distribution and dividend growth “better than the competition”, but also the ability to do so. In this regard, they expect Repsol to generate an average FCF (post minority dividends) of €2.3bn per year, to be channelled into distributions, assuming an average value of €2.1-2.2bn over 2024-27e. In the…


Repsol entrada

EIA now forecasts world crude oil demand to average 103.2 M b/d in 2024: favourable environment for Repsol

Renta 4| The US Energy Information Administration revises its supply and demand and crude oil price estimates for 2024. In its March edition of the Short-Term Energy Outlook, the US Energy Information Administration (EIA) said it expects Brent crude oil prices to average 88 usd/b in the second quarter of 2024, up 4 usd/b from February, estimating Brent crude oil prices to average 87 usd/b in 2024, up from 82.4…


Repsol Strategic Plan

Repsol announces dividend hike (30% to €0.9/share) despite 25% drop in 2023 profit to €3.168 billion

The company increases the cash dividend by approximately 30% in 2024, to €0.9 per share (€1.095 billion in total) and commits to increasing it by 3% annually. With this, Repsol will distribute €4.6 billion in cash in the 2024-2027 period. This remuneration will be complemented with share buybacks of up to €5.4 billion, in the expected price environment, thus allocating up to €10 billion to remunerate shareholders over the next…


Repsol novedad

Centrica reaches supply agreement with Repsol to buy 1 Mt of LNG between 2025-2027

Link Securities| Repsol (REP) and Centrica have signed an agreement that will increase the UK’s energy security in the coming years, according to elEconomista. The agreement will see the British company purchase 1 million tonnes of liquefied natural gas (LNG) between 2025 and 2027. Under the agreement between the two companies, all of these cargoes are expected to be delivered to the Grain LNG import terminal in Kent. The deal…


repsol estacion servicios

Norges Bank increases participation in Repsol’s capital by 0.88% to 5.417%

Norges Bank, which manages Norway’s sovereign fund, has reinforced its commitment to Repsol (REP) and has raised its stake in the energy company’s capital to 5.417%, its highest position since it joined the company. Specifically, the firm has increased its participation in Repsol by 0.88% of the capital from 4.535%, which was the last position it had communicated at the beginning of this month. At current market prices, this 5.417%…


Milei

Milei sets up tax associated with expropriation of YPF to pay compensation including $1.5bn payment to Repsol

BancaMarch | The Milei government is setting up a special tax in Argentina associated with the expropriation of the YPF oil company. The tax, which will be known as the “Kicillof tax” because it was imposed during the time of the Minister of Economy, Axel Kicillof, will serve to comply with the judicial sentence to which the country was condemned in September by a US court. The amount of the…


repsol estacion servicios

Competition Commission opens proceedings against Repsol for possible abuse of dominant position by offering additional discounts

Link Securities| The Spanish National Markets and Competition Commission (CNMC) has just opened a disciplinary case against Repsol (REP) for offering additional discounts to its customers, according to the finance and business daily, Expansión. For the CNMC, this practice that the oil company has carried out through the companies Repsol Comercial de Productos Petrolíferos, S. A., Repsol Directo, S. A., Repsol Customer Centric, S. L., Solred, S. A., Campsa Estaciones…


repsolrenovables

Repsol sells 49% stake in renewable assets of Ebro project to Pontegadea for €363 million

Bankinter| Repsol (REP) has sold a 49% stake in renewable assets of the Ebro project, 618MW, to Pontegadea for €363 million. This represents a valuation of the entire portfolio €740 million. It comprises twelve wind farms in Huesca, Zaragoza, Teruel, Valladolid, Albacete and Cádiz. Assessment: Positive news because it strengthens alliances with Pontegadea, with whom it has already closed three operations in renewables (49% of the Delta project for €245…


repsol refineria exterior

Repsol considers setting up new industrial projects in Portugal due to maintenance of energy tax in Spain

Link Securities| Repsol issued a note yesterday in which it pointed out that the possibility of maintaining a tax on energy companies, which was conceived as temporary and extraordinary, punishes companies that, like REP, invest in industrial assets, generate employment and guarantee the country’s energy independence, the daily Expansión reported. Instead, it favours importers that do not generate employment or relevant economic activity in Spain. Consequently, the company adds that…